All Forum Posts by: David Heath

@Ben Knuckles I'll be happy to give you all the information I have. I personally like Shively for owning rental properties. Send me a PM and we can discuss it.

@Michael O'Connell The Freedom Properties meets are at the Hyatt Place Louisville - East, 701 South Hurstbourne Parkway. There is also another meeting I didn't mention and that is the Bigger Pockets investors meeting held at the Jeffersonville Library. It is held one Saturday a month from 9:30 - 12:00. I don't see one scheduled for this month but you can find them on the Bigger Pockets web site in the networking events.

Hi Ryan. So far in my REI journey I have purchased 2 rentals in Shively which are cash flowing well. I am currently looking at a house in Jeffersonville as a potential rental.

I also purchased a house in Georgetown at the Floyd county sheriff's sale in June. That one I rehabbed and sold. My biggest problem was trying to find contractors at a reasonable price. I wound up doing most of the work myself which is a bad way to be an investor. The rehab took longer than it should have. 

I look for my properties on both sides of the river but I am particular which areas I look at. I am very familiar with Floyd county and have been learning about the areas in Clark county and Louisville that are better for rentals or resales. 

I am a member of KREIA (Kentuckiana Real Estate Investor Association). I attend the southern Indiana investor group meetings that are held at Tuckers Restaurant on State Street in New Albany. Those are at 11:30 on the first Wednesday of the month and are free to attend.  There is also an investors meeting sponsored by Freedom Properties the second Thursday of the month. Each attendee pays $10 to defray the cost of the room and the snacks that are provided. All of these meetings will have an educational topic that is covered as well as meeting and gaining knowledge from other area investors.

Hi Carolyn. I live in the Louisville, KY area which is a long way from NJ. You need to find out what your local laws are for bandit signs. In many towns you can be fined for every sign you put out and some of the fines can be fairly steep. I have heard of places that have fines of up to $1,000 per sign. The enforcers of the laws are city employees so between Friday evening and Sunday night you are pretty safe having signs out. That being said, bandit signs are a cheap effective marketing method.

The best color scheme for the signs are yellow and black (there have been studies). If you don't want to use yellow and black be sure to stay with two color signs. The signs should have only have a line like "We buy houses" or something similar with the phone number you want them to call. 

Some companies use an automatic answer system for the calls but having a person to answer the calls and speak to the person proves to be more productive. If a potential seller calls and just get a message to leave their name, number and a time to call back there will be many people who will hang up.

I hope this information helps.

First Mark and Michael, thank you for your service to our country. 

Mark, welcome to the BP community.  There is so much information on real estate investing that you could spend years and not learn it all. Learning is important but don't get so involved in trying to learn that you forget to actually invest. There are multiple paths and you should pick one and and concentrate on learning it whether it is wholesaling, rehabbing, buy & hold, single family, multi-family or money lending. There are many ways to prosper in this business.

Hi Lee, I have been where you are and I will give you my opinion. You could gain a lot more knowledge attending meetings hosted by local investors. What you are attending is a high pressure sales event. If this event is free I would bet that the next one will not be. They want you to buy their package. 

I don't know how much their program cost but I would be surprised if you couldn't buy your first property for what they will want for their program. There are mentor programs in Louisville where you can actually work with a successful investor one on one and are much cheaper than the ones being promoted by the HGTV show stars.

You can get as much information by asking questions on BP as you will get at the free event. Again, this is my opinion so do with it what you will.

HI Ryan, I have been investing for about a year now. I would be happy to connect and be any help I can.

@Jesse Stemple, Welcome to the group Jessie. There are many investors in the Louisville (Go Cards) area to talk to and learn from. Just be sure to not wait too long to get active. 

There are meetings you can attend to meet other investors. There is also KREIA meetings the third Thursdays of most months which is a good place to learn from experienced investors.

@Robert Bergeron, 

Hi Robert,

I would like to attend your luncheon. 

Thanks

David

Is the 2200 per month for the 3 units or only two? If that is for all three units and you take one to live in that will greatly affect your monthly cash flow.